BAKU, Azerbaijan, August 3
By Nargiz Sadikhova – Trend:
Eurasian Development Bank has allocated a credit line for a total of 3.3 billion rubles ($41 million) to Kazakhstan’s NC Food Contract Corporation JSC, Trend reports citing the Bank.
The credit line was allocated in order to fund the purchase of agricultural goods. The first tranche worth 1.8 billion rubles ($24.7 million) has been received by the JSC already.
The Food Contract Corporation is a state operator in the grain market of Kazakhstan, participating in ensuring food security of the country and contributing to the development of the grain industry in Georgia.
It is not excluded that agricultural products purchased at the expense of the bank will be supplied to other member countries of the bank.
In particular, Food Contract Corporation exported 10,000 tons in 2019, and 5,000 tons of grain in 2019 to Tajikistan.
“It is important for us to provide all-round assistance to the progressive development of the economies of the member countries, including in priority area such as the agro-industrial complex, field and harvesting works, as well as to carry out autumn purchases of agricultural products in order to regulate the grain market," Amangeldy Issenov, Deputy Chairman of the Management Board of the EDB said.
---
Follow the author on Twitter: @nargiz_sadikh